Photoshop question. PLease help!

Sorryif this doesn't belong here. I didn't notice a questions thread, so i thought this might be the best place to ask.

Here's my problem.

Ok so lets say you type the letter "G" on a layer. you then say use "layer style" to give it an "Outer glow" or any other effect. is there a way to basically flatten that effect so it's no longer an effect but just part of the image? i can't seem to figure it out.